What blockchain technology is and why your smartphone needs it

Blockchain technology is the future and now there are smartphone apps that allow you to experience this incredible phenomenon.

Imagine a world where third-party interactions in money transfers, and any other transaction that requires two or more people, did not exist. This is what blockchain technology promises: the decentralisation of permission-centric structures in communication systems.

What is blockchain technology?

Blockchain is a new type of internet where digital information can be distributed but not copied. It was originally created the new digital currency that everyone is obsessing about – Bitcoin. Authors of Blockchain Revolution (2016), Don and Alex Tapscott, define blockchain as

“the blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value”.

Who is Andy Tudhope?

Nowadays, tech geniuses like Andy Tudhope are finding other potential uses for the technology.

Besides referring to his profession as an ‘Interplanetary Cat Herder’, Tudhope is the technical evangelist that created a blockchain-based messenger app called Status.

What does the Status messenger app do?

Status allows people to gain access to their cryptocurrency wallets, send messages anywhere in the world without the restrictive walls of third-party policies and communicate with decentralised applications.

Commenting on what Status means for upholding the freedom of expression and self-reliance, he said that

“you can say what you want, transact with whom you want, and connect to whichever part of the world you want without having to ask anyone’s permission”.

Google moves towards blockchain technology

The world’s internet powerhouse, Google, was not going to be left behind for too long.

The planet’s most preferred search engine has partnered up with distributed ledger technology (DLT) startups, Digital Asset and BlockApps, to introduce blockchain technology to its cloud platform.

Leonard Law, Google Cloud’s head of financial services, said that

“DLT has great potential to benefit customers, not just in the financial services industry, but across many industries – and we’re excited to bring these developer tools to Google Cloud”.